The Journal of the Daily Adventures of Indiana-Joe

The weather was absolutely perfect today. Sunny and in the mid 80's. It makes going back to work on Monday morning that much harder. I hope the week goes by fast because I have several more properties that I need to see this week. The family and I went out for a great lunch and decided to take a ride to check-out a few new listings in another county. I was able to find my wy around thanks to the pre-printed directions I created before I left home. The first proeprty is a home that was converted to commercial use. It ios on a bust street and can be used for either a home or a commercial office space. I liked several things about this property. It was on a corner, had a newer roof, had parking for 8 to 10 cars and a 1 and 1/2 car garage and it is under $90k! Thus, it has potential.

I went to look at another Bank Owned REO multi-unit. It was originally a 6 unit building that the bank decide to remove the 2 units in the basement due to the size of the windows and other issues to conform with the local code. However, there are still 4 units in the building 2 on the main level and 2 upstairs units. This REO property has a newer roof, siding, HVAC units and rear stairs for all units. The price is just under $200k and it is near good major streets and highways for ease of transportation.

I am going to schedule an appointment to see both of these properties during the week. I hope the inside looks as attractive as the exterior. Good luck on all your deals. Believe and Achieve! - Joe

The weather was perfect today and it was a great day to take a walk to the lakefront at lunch. The boats were going out of the marina and the day was perfect with a light breeze in the air. It made it hard to go back to work, because there is so much to see and do in the Chicago loop and lakefront at lunch time. The boats, entertainment, parks and building of skyscapers all around you. It was a great lunch and I took the long path back to the office.

I made my appointments to view 2 additional REO properties on Wednesday evening. I spoke to the Asset Manager and inquired about a package deal for several of their REOs. She indicated that we could discuss this further once I had finalized which REOs I wanted to make the package offer on. I hope the bank will offer financing on these REOs and since they have several they may have an interest in getting them off their books. I researched through the county assessor that the bank have owned these REOs for more than 2 years.

It amazes me how long banks will keep REOs on their books. Thus, I hope my timing is good to submit a win-win offer for a few of these REOs. I will keep everyone posted. Good luck on all your deals. Believe and Achieve! - Joe

Today was a great day. My wife and I had an opportunity to attend a property tax certificate sale today. There were hundreds and hundreds of delinquent tax certiifcates for sale. It was a very interesting process, however we did not purchase any certificates today. We met a very nice investor that has done this since the 1980's. He was very friendly and offered plenty of good advice and information, just for the listening.

I have about 27 properties on my radar and I also have 3 on my radar for my current employer. They have an interest in finding some office space and finally thought about buying over renting. Thus, I have been tasked wit the job of locating some buildings that may work for office space. I have to admit this is probably the best part of my job and I have really enjoyed being able to learn an pursue commericla real estate on behalf of my employer.

I need to contact 4 different real estate agents tomorrow to discuss current properties, offers and schedule some viewings. This evening we had a phone call from a friend that my wife and I greatly admire. It is often nice to hear from friends and just spend a few minutes to talk with each other. Well, its almost midnight and its time to call it an evening. Good luck on all your future deals. Believe and Achieve! - Joe

I have a real estate activity packed day today. I have various appointments wih real estate agents, contractors and even a city official to inquire about zoning. Thus, it should be an exciting day and put us one step closer on that path of real estate investor knowldege. I have 3 specific proepties on my radar and each of the real estate agents emailed me today with a best and final for the proeprties. I wil lmake a best and final on all 3 but I hope to only get no more than 2 as we churn the properties through the pipeline development of rentals. Have a great day everyone. Believe and Achieve! - Joe

The weather is just perfect today. As I drove into the Loop this morning the sun was shimmering and glimmering on the water as the small boats dotted the lakefront. Joggers, bikers, and walkers dotted the lakefront trail and all I could think about was wouldn't it be great to be free of the day job!

UPDATE ON OFFERS:

I contacted my realtor yesterday and offered $50k cash for a nice 4 bedroom 2 bath home I have had on my radar. The home dropped from $129k to $90k. I hope the bank bites at $50k because the home needs about $5k in repairs and will have an ARV of around $125k.

I contacted another bank that has 3 REOs. I inquired if they would be interested in a package deal and if they would consider terms. I really like one of the REOs they are holding. They foreclosed on a developer that started a sub-division. There are 3 homes and all infra-sturcture is already run from the one main street to utilties, etc. This would be a "big time" leave my job type of deal!

There is another property that is a 3 flat. It would probably make more sense as a 2 flat with a coin-op laundry room. They are asking only $49k because it needs about $30k in work. I offered an all cash (quick close) offer for $10k.

I will keep everyone updated on the offers. Don't forget to grab those surfboards, the REO wave is coming! At lunch I will be off to the Lake Michigan waterfront to watch the boats and escape "the day job" at least for an hour! Good luck on all your deals. Believe and Achieve! - Joe

It is so impressive reading your journal. I just read about thirteen posts, I had not read earlier. Great determination and investment strategies. I guess you cannot wait to fire that long day job, and enjoy your life's passion. I wish you all the best. God Bless.

Sandra

Joe,
I have just read DG's latest book and today is the first time that I've had a chance to go on his website. I also have a fulltime job at my company and am looking for the financial freedom that you seek. I found your journal to be very inspiring. I read every entry. You are so enthusiastic. I know you are going to achieve whatever goals that you set. I'm looking foward to Dean's webcast on Tuesday night.
Thanks!
Jim

Thanks for the comments. It is so true, I enjoy the field of accounting but the day I can leave the day job and pursue real estate 100% of my time will be a tremendous day for me! This would truly be a dream come true and I actually can have hope that day will come sooner because of Dean and his real estate information and teaching.

I have a passion as a real estate entreprenuer and I often can see the big picture and visualize things as what they can be and not what they currently are. Good luck on all your future deals. Believe and Achieve! - Joe

Thanks for the comments. Congratulations on completing Dean's book. It is packed with great information, tips, strategies and techniques. Real Estate Investing can provide hope for a better tomorrow and Dean's information is real world techniques that actually work. Financial freedom is within grasp and I have met several individuals that have gotten there.

It starts with hope and a dream that leads to goals, a plan and taking action! The great thing is anyone can do this! I look forward to reading about your progress and be sure to jump into the DG website forums. We can all learn from each other. Dean's conference calls are tremendous and you can listen to prior calls that are located on the website.

We are all on the edge of our seats for the next call on Tuesday, 07-21-09, and I am sure it will be packed with great information, inspiration and content. Good luck with real estate. Believe and Achieve! - Joe

FRIDAY......Ahhhhhh!

Well, the (day job) work week is almost over and the fun (second job REI) starts this weekend. We have a few other properties to take a look at. The home that I offered $50k for took the other higher offer, But no worries, because the bank that has the REOs called and stated they would like to setup a meeting next week to discuss their REOs. I prefer email over when dealing with REO offers because they can usually "chew" on the offer a while before they give an immediate "no response". However, I will take the meeting because if I can meet the decision maker at the bank that will be a great contact to have in the future. I hope it goes well. I want to get either a great price on the REOs or 100% Bank financing. We'll see how this one plays out.

The weather this afternoon in the Loop is rather cool around 70 degrees. Thus, I am going to take a walk over to the Chicago River to enjoy a sandwich and watch for boats going out to Lake Michigan before my lunch hour is over. I wish everyone good luck on all your deals. Go get'em this weekend! Believe and Achieve! - Joe

Today was a nice day with the weather in the mid 70's. We are working on a project and home and found some good deals for items that we need for our at home office. We drove a new area and county today and was amazed at the developments we did not even know about. I emailed my real estate agent about some current offers. I also stopped at a few small home stores such as litghtning, decor, etc. The stores had a bulletin board with cards for contractors etc. Thus, I picked-up a few business cards to have in the event we needed their services in the fuutre. Good luck finding the deals. Believe and Achieve! - Joe

The day started out fast as I had to run some errands today. I noticed a few more homes with for sale signs in their front yards. There were even several open houses in the area. I enjoy stopping at a few when I have timebecause I can meet other real estate agents and get their take on the market. The one thing I heard a lot of today from people at open houses was a slight fear to buy today because as they would say "who knows what will happen to the price tomorrow". This has been a concensus of many people that told me during the past few weeks tha they need to be liquid with their investments and real estate will continue to drop in their minds.

I find it amusing that many of my friends that talk about real estate dropping are the same people that are in the stock market very heavy. Then I thought, Is it their stock brokers talking down real estate so they do not pull their money out of the stock market?....hmmmmm......hmmmmm..... As Harry Caray (the former Baseball broadcaster) would often say...It might be....It could be....IT IS!

Good luck to everyone on your real estate investing. May the deals come early, often and be very plentiful in your local areas. Believe and Achieve! - Joe

Just wanted to pop in here and say I enjoyed listening to your wife and you last night. I did order the Edge course as well. I'm really excited and can't wait to get it! You guys are great and a real inspiration and prove money CAN be made in RE, now I'll have the tools as well, pretty cool!

Dawn

I am so glad you ordered the Edge Event last night. I can't wait to get all the information myself. I am going to be sitting by the door waiting for it to arrive.

Good Luck to you.

Carpe Diem~ Stacey :0)

Thanks for being so frank with us last night; great job! I too ordered the course (but unfortunately, not the Intense Training...not enough money). However, I waited for the confirmation email to come back and got after it; set up my accounts, logged into the APF, went thru the steps! Yep, couldn't sleep!! Anyway, look forward to working with the program and within the Private Network and having some immediate positive (cashflow) results!!

I'll be at my brothers for the weekend...I'm thinking it will be here by Friday when we leave. I told Dean (my hubby) we should take the DVD player with us so we can watch it in the camper! He doesn't want to do that, obviously he thinks I need "personal" time off! Can't wait to dig in though.

Thank You and Stacy for a great call!

Dawn

I just wanted to thank you for telling us in the call last night how things are progressing. Your journal is a great resource! I am not new to investing in realestate, got back into it a year ago and have some rentals. Deans course is unbelievably detailed in all aspects. Just because I am not new, I will follow these strategies to a T. I was also impressed a few month back when I ordered Dean's books that no one tried to upsell me on other products. I have been trained in the past on buying and rehabbing properties. My original strategy was to buy, rehab, refinance out my credit line. I will now add other strategies to my list. I am currently a plumber and HVAC guy by trade. In the past I worked in finance and IT. This all seems to be adding to mine realestat knowledge now. Also by the way, I have a friend who got into realestate investing after high school back in the mid 90's. He bought houses in the beginning. We lost touch for a few years. He know has 350 units! It can be done with training and good effort!

Joe and Stacey:

You're story last night on the call was very inspiring. I too was Dean's Live Event and am just getting started myself. Your posts are enlightening, inspiring and helps newcomers like me stay on track. Dean's attitude and commitment to help others is amazing. His truth and energy provide hope for anyone. You and Stacey have jumpstarted your future and I hope to follow in your footsteps myself. Time for everyone to get out of the way. Thanks to both of you for your input what seems like on a daily basis. Continued success to both of you and I am sure I will get to meet you at the next Live Event.

Eddie Kilthau
Phoenix, Arizona

Joe,

Thanks for sharing your passion and excitement for real estate investing. This is an encouragement to all of us.

I was on Dean's call last night and bought the EDGE Home Study Course. I have read both of Dean's books and am ready to 'pull the trigger', and get going on my real estate investing career. The one issue that has me a little troubled is financing. I am currently unemployed so bank financing would likely not be an option.

I would be interested in knowing how you finance your deals. Any information in as much detail as you would be willing to share would be appreciated.

Thanks so much.

Thak You joe and stacy, last night i got the wow factor as you were talking about your purchases i am sooooooo excited!!! I bought the Edge home study course last night and I can't wait for it to get here. You both brouht a spark to my life and I must thank you for it.

Bob Ross

Thanks for the info one the call last night I hope you get even more deals and become a millionair by the end of the year! I got the edge ordered and I am waiting to learn more!

Thanks for the nice comments. It was a pleasure to be able to share our thoughts. Anyone can do this if you follow Dean's programs and principles. There may be obstackles but as Dean has indicat3ed, if you know your "why" nothing else will matter. Do not let anything or anyone hold you back! I am sure you are going to love the program, the conference was awesome! Good luck with REI. Believe and Achieve! - Joe

Thanks for the nice comments. I would take along the DVD player. You can start to watch the program soon enough. Even though we were there live in April we still are very anxious to review the program and bonus goodies. Have a safe trip and enjoy. Good luck with REI. Believe and Achieve! - Joe

Thanks for the nice comments and the information. We are glad to hear you are also doing well with your real estate investing. It is so true that the key can be perseverance and not letting anyone or anything get in your way. Good luck and continued success with your real estate investing. Believe and Achieve! - Joe

I as well am just chiming in to say thanks for the inspiration and coaching on last night's call. I also ordered the edge (even though my bank account was begging me to reconsider) and I know its going to be an amazing resource.

Good luck and Happy Investing!

Thank you for the nice comments, we are happy to know you found our story inspiring. We hope it helped people and gave them confidence that no matter where you are at today, you can be closer to where you want to go by tomorrow! All you need to do is follow Dean's principles and programs. We just want everyone to know that anyone can do this.

We are also happy to know that your enjoy our postings. We really enjoy the DG website family and look forward to reading about everyone's success. Dean has provided the roadmap to success with his programs and it is up to us to get on the highway and go!

There is power in numbers and I believe there is going to be so much more knowledge shared by the new DG Members joining each day. We look forward to meeting you at Dean's next Gain the Edge event 2010. Good luck with your real estate investing! Believe and Achieve! - Joe

I really enjoyed the call last night. It was a very good inspiration to all. I am not finacially able to do it at this time but that will not stop me from making it one way are the other. I just heard of another retiree from the company that i worked at, that was made to leave with retirement, that could not make it and he took his life. It was truly a sad time...That kind of thing should not happen to anyone. This is hard work, to make it happen in this market, but it is very doable. If only I could have reached him before, maybe I could have helped him to work through his depression. Sorry, Lets go forward and make this old world a better place for all to live. In God We Trust.
Love to all,

Thanks for the nice comments and congratulations on reading Dean's books and getting the Gain the Edge program. This program is packed with great content and information including financing and making cash from assigning deals. I am sure it will give you so many ideas. There are several ways you can buy real estate with no money down. You may want to see what techniques work best for you and apply those. You can get partners, do assignments to build up cash, get bank or owner financing, etc.

We have done a few different things. The first deal we found was a great deal. Small local area banks are usually willing to do refinancing based on the appraised value rather than the purchase price which is key. We gathered funbds from selling an extra car and a garage sale. We purchased the home and then did a refi to pull out our cash and some extra equity to work with. We also found a bank owned REO home tha the bank financed for us 100%. Thus, thre are many ways to buy real estate with no money down. Dean's books and programs are packed with so many great ideas. I hope this helps. Good luck with REI. Believe and Achieve! - Joe

Thanks for the nice comments, we really appreciate it. We are so happy that you purchased the Gain the Edge program because it is a life changing, information packed program. We are sure you will be so excited, you may not even be able to sleep for a day or two. The anticipation of the mail will make you keep an eye out for the mailman each day!

We are happy to hear that we could provide some inspiration because Dean, and his Dream Team at the Edge event surely inspired us to take action and gave us so much information to work with! We are so grateful we attended the event and look forward to the Gain the Edge home version and the Gain the Edge 2010 event! Good luck with REI! Believe and Achieve! - Joe

Thanks for the nice comments and encouragement, we appreciate it. Congratulations on ordering the "Gain the Edge 2009" course, we are sure you will be so excited with all the great information. We can't wait to get our course to review our notes and find even more tidbits of information I missed at the live event.

For me the live event was as intense as the Chicago Bears in the Superbowl at the goal line needing a touchdown to win and the ball at the 1 yard line! I watched and listened to every moment and could not write notes fast enough! The home course will allow us to update notes and I am sure get even more content and ideas. Good luck with REI. Believe and Achieve! - Joe